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Prada said to move closer to Versace deal for up to €1.5 billion

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Bloomberg

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March 2, 2025

Prada SpA is moving closer to a deal to buy Versace from Capri Holdings Ltd. after agreeing to a price of nearly €1.5 billion ($1.6 billion), according to people familiar with the matter.  

Versace – Fall-Winter2025 – 2026 – Womenswear – Italie – Milan – ©Launchmetrics/spotlight

The Milan-based company and Capri could finalize a deal for the Italian luxury clothier this month, said the people, asking not to be identified because discussions are private. Talks are progressing after initial due diligence didn’t find any risks, the people said.

The timing and valuation could change and discussions could still fall apart, the people added. Capri, which bought Versace in 2018 for about €1.8 billion, didn’t immediately respond to requests for comment on Sunday. Prada declined to comment.

A potential acquisition of the fashion house founded by the late designer Gianni Versace in 1978 would allow Prada to create a larger Italian player to better compete with global luxury groups such as LVMH and Kering SA.

A purchase would mark a reversal of the trend in Italian fashion after decades during which domestic luxury groups — including Gucci and Valentino — were bought by foreign rivals. 

Prada emerged as one of the luxury sector’s winners amid a global downturn for high-end fashion items. Its sales surged in the third quarter of last year on the back of its Miu Miu brand, a label popular with younger consumers.

The Italian company had spent weeks evaluating Versace with its advisers, and had gained exclusive access to its latest financial and sales figures, Bloomberg News reported in February, citing people familiar with the situation.

Even with a deal, Prada will be worth a fraction of its biggest competitors. The Hong Kong-listed fashion house has a market capitalization of about HK$169.4 billion ($21.8 billion), following a 10% share gain since the start of the year. Miuccia Prada’s family and her husband Patrizio Bertelli control about 80% of the company. 

French conglomerate LVMH, which owns Louis Vuitton and Christian Dior as well as a string of Italian brands including Fendi and Loro Piana, has a market value of €347.5 billion. LVMH last year bought a stake in the company that controls Moncler SpA, the Italian maker of designer outerwear. 

Versace reported revenue of $193 million for the third quarter of the current fiscal year, a 15% year-on-year decline, according to a statement. Over the same period, the brand’s operating loss widened to $21 million for $14 million.

Capri, which also owns Michael Kors, hired Barclays Plc to explore options for some of its portfolio companies after an $8.5 billion combination with Tapestry Inc. was scrapped following a court order. Capri’s debt was downgraded to below investment grade by S&P Global Ratings in February.
 



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PrettyLittleThing reveals mega-rebrand as it looks to “complete renewal”

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Boohoo Group’s PrettyLittleThing (PLT) business on Monday unveiled a complete rebrand with the company saying this is PLT’s “most ambitious transformation since revolutionising digital fashion in 2012”.

Umar Kamani

Dubbed “A legacy In Progress”, we’re told it “heralds an elevated new era that celebrates the brand’s heritage while boldly reimagining its future”.

The site rebrand includes a complete overhaul of its look and feel, including the logo design, colour palette, typography, and website design, the tone of voice, website user experience, and overall brand positioning.

It also includes the removal of all previous social media content “as part of the brand’s complete renewal”. Its social channels went down at midnight on Sunday and returned at 18:00 GMT on Monday.

And while this is a newly-announced initiative, the company said that the transformation actually began back in September 2024 when founder Umar Kamani returned to the helm “with a passionate commitment to reconnect with customers. Through months of direct customer dialogue and feedback, Kamani has shaped a vision that captures the essence of modern sophistication”.

The new PrettyLittleThing
The new PrettyLittleThing

So what does that mean in practical terms? Well, the “evolution” launches with “two standout collections”. They are PLT Label, “setting a new standard in contemporary elegance”, and New Beginnings, described as a “sophisticated celebration of modern style”.

The company has also reimagined PLT’s visual identity and the distinctive unicorn emblem, “once a playful symbol in bubblegum pink, has matured into a sophisticated, heritage-inspired mark that marries the elegance of a historic coat of arms with modern design”. 

Continuing the elevation theme, PLT said the new monochrome emblem “pays homage to the craftsmanship of luxury house emblems while maintaining the unique spirit that has always set PrettyLittleThing apart”. 

The company's new wordmark
The company’s new wordmark

There’s also a reimagined wordmark that’s intended to be “a modern take on classic typography, blending timeless heritage with a youthful edge”, and once again, a “confident” shift in the colour palette from that bubblegum pink to “rich tones” of garnet, rose petal, and blush sand.”

Kamani added that this is “more than a rebrand – it’s a movement that celebrates our customers’ evolving style. We’re writing the next chapter of fashion history, and we’re just getting started”.

The new look from PLT
The new look from PLT

The rebrand also includes “an exclusive gathering” during Paris Fashion Week, “a pivotal moment that marks PrettyLittleThing’s elegant arrival in the world’s fashion capital. This event will showcase the new world of PrettyLittleThing with a ‘quiet luxury’ sensibility – featuring subtle branding, a chic venue, and a refined guest list that embodies our forward-looking identity”.

Copyright © 2025 FashionNetwork.com All rights reserved.



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René Caovilla focuses on Asia as e-tail revenue grows 33%

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Translated by

Nicola Mira

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March 3, 2025

Despite the region’s generalised consumption slump, Italian luxury footwear brand René Caovilla, which generates 79% of its revenue outside its home country, still firmly believes in the Asian market.
 

René Caovilla, Fall/Winter 2025-26

René Caovilla recently opened a flagship store in Hong Kong, inside the prestigious Harbour City Mall, and on February 20 opened a pop-up store in Bangkok at the Central Embassy, Thailand’s premier luxury shopping destination, adding to the store already active in the city’s Central Chidlom district. The brand also has set its sights on other South-East Asian countries which have shown an interest in its products, like Singapore, Malaysia and Indonesia.
 
In 2024, René Caovilla performed very positively in the e-tail channel, which posted a 33% revenue growth over 2023 and accounted for 12% of total revenue.

At the recently concluded Milan Fashion Week Women, the brand presented its new collection, ‘The Golden Era’, with golden details centre-stage. The label’s iconic Cleo model features in a version enhanced by a golden pattern inspired by couture ateliers, as do the two new ballet flats, and the mule and slingback models, enriched with a motif made with hand-set crystals, in a nod to exotic destinations.
 

René Caovilla, Fall/Winter 2025-26
René Caovilla, Fall/Winter 2025-26

The collection also includes the Full Crystals series, consisting of slingbacks, Mary Janes with a Parisian vibe, boots, ballet flats and kitten-heels models, characterised by cascades of small crystals and featuring mini and split buckles, pointed toes, serpent decorations and directional sparkling details.
 
The Wave series is inspired by sinuous wave-like elements enveloping the foot and ankle. Slingbacks and stiletto-heeled booties are presented in soft pastel colours and decorated with a row of black crystals, and are available also in dark-brown suede or in black with tone-on-tone crystals.
 
A novelty for Fall/Winter 2025-26 is Spark, a new serpent element wrapped around the ankle in a spiral of glittering crystals. It is used to embellish sandals in purple, orange and grey metallic fabrics, or in blue, purple and raspberry-coloured velvet, as well as bold knee-high and ankle boots in black stretch Nappa leather.
 
Two signature René Caovilla models are back in the collection, the Chandelier and Margot sandals, featured in bright hues like raspberry, purple, orange, teal and amber, as well as in classic dark grey. Braid, a model launched in Spring 2025 and characterised by a double braid element, is also included in the collection, in seasonal hues and new silhouettes: two mule versions, pointed-toe models, models with ankle serpents, and flip flops with chunky heels. Finally, the bridal collection introduces the new Dalilah model, featuring a T-shaped cross-over on the front of the foot, an ankle strap and white crystals.
 

René Caovilla, Fall/Winter 2025-26
René Caovilla, Fall/Winter 2025-26

For the season, the label is also introducing a capsule collection of mini handbags: The little Bucket Bag with all-over rhinestones in orange and gold, also available in black velvet; the Wave clutch-bag, in light pink satin, or in black with all-over rhinestones, and in a velvet version trimmed with black rhinestones, featuring a Serpent bracelet for attaching it to the wrist; and a black mini-trunk with allover rhinestones and a serpent-shaped handle.

Copyright © 2025 FashionNetwork.com All rights reserved.



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Havaianas owner emerges from losses and earns 17.7 million euros in 2024

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EFE

Translated by

Nazia BIBI KEENOO

Published



March 3, 2025

Alpargatas, the Brazilian company behind the iconic flip-flop brand Havaianas, bounced back into the black in 2024, posting a net profit of 107.4 million Brazilian reals (€17.7 million), according to a statement released last Monday.

Havaianas’ parent company returns to profit with €17.7 million in earnings for 2024. – Havaianas

This result sharply contrasts the 1.87 billion Brazilian reals (€309 million) loss recorded by the group in 2023, according to financial statements submitted to the São Paulo Stock Exchange. In the fourth quarter of last year, Alpargatas posted a net profit of 2.1 million Brazilian reals (€350,000).

The company’s annual net revenue reached 4.11 billion Brazilian reals (€679.71 million), a 10% increase from 2023. This double-digit growth was largely driven by the strong commercial performance of Havaianas and the “normalization process of sales volume,” according to the financial report. The group recorded 3.1 billion reals in sales within Brazil. In 2024, Alpargatas sold 226.6 million pairs of Havaianas, a 9.5% increase from 2023. Of these, 204.4 million pairs were sold in Brazil, while 22.2 million were sold internationally, though overseas sales declined by 3.1%.

In the fourth quarter, Havaianas sales rose by 4% compared to the same period in 2023. Alpargatas’ EBITDA (earnings before interest, taxes, depreciation, and amortization) also returned to positive territory, reaching 280 million Brazilian reals (€46 million) in 2024. However, in the final three months of the year (October to December), the company’s EBITDA slipped into the red, posting a 1.8 million reals (€300,000) loss, representing a 99.8% decrease in losses compared to the fourth quarter of 2023.

Alpargatas owns Havaianas and Ioasys, an innovation and technology company, and holds a 49% stake in Rothy’s, a North American sustainable footwear brand. According to company data, its products are sold in over 130 countries, and the group operates directly in more than 20 markets.

© EFE 2025. Está expresamente prohibida la redistribución y la redifusión de todo o parte de los contenidos de los servicios de Efe, sin previo y expreso consentimiento de la Agencia EFE S.A.



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